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Legislative Year: 2021 Change
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Bill Detail: SB21-288

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Title American Rescue Plan Act of 2021 Cash Fund
Status Governor Signed (06/11/2021)
Bill Subjects
  • State Revenue & Budget
House Sponsors D. Esgar (D)
A. Valdez (D)
Senate Sponsors D. Moreno (D)
B. Rankin (R)
House Committee Appropriations
Senate Committee Appropriations
Date Introduced 05/28/2021
Summary

As part of the federal American Rescue Plan Act of 2021
(federal act), the state will receive $3,828,761,790, and $380 million of
that money will be used for transportation infrastructure. Section 1 of the

bill creates the American Rescue Plan Act of 2021 cash fund (fund) and
requires the state treasurer to deposit $3,448,761,790, which is the
balance of the federal funds after the transportation infrastructure use, in
the fund.
The general assembly may transfer money from the fund to another
cash fund that is established for the purpose of using the money from the
federal coronavirus state fiscal recovery fund, and the act establishes
requirements for this type of cash fund or one that includes any
subsequent transfers or appropriations (recipient fund). If there is any
money remaining in the fund after the legislatively authorized transfers
during the 2021 legislative session, then the governor is authorized to
allocate up to $300 million for the purposes permitted under the federal
act, and the money is continuously appropriated to the departments the
governor designates.
In order to ensure proper accounting for and compliance with the
federal act, if a recipient fund has money from other sources, then the
state controller shall establish an identical, companion fund that only
includes the federal funds from the federal act.
Money in the fund or a recipient fund must be expended or
obligated by December 31, 2024, and any money obligated by December
31, 2024, must be expended by December 31, 2026. The state treasurer
is required to transfer the unused and unobligated amounts in the fund as
of December 31, 2024, to the unemployment compensation fund. A
department is prohibited from using any money from the fund or a
recipient fund for any purpose prohibited under the federal act, and
transfers from the fund to the general fund are prohibited.
The state controller is required to provide the secretary of the
treasury of the United States with the periodic reports about the state's use
of the money from the fund or a recipient fund. Departments and persons
receiving money from departments are required to comply with any
reporting record-keeping requirements established by the state controller
and the office of state planning and budgeting (office) and with any
program evaluation requirements established by the office. The office is
required to provide the joint budget committee with a yearly performance
report, which includes the information the state controller provides to the
secretary.
Sections 2 and 3 modify existing federal funds reporting
requirements so that, like the reporting on the money from the recipient
funds, the joint budget committee receives an annual report instead of
quarterly reports. In addition, the state controller is required to make the
report instead of the office, and the information required to be submitted
is modified.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (07/27/2021) (most recent)  
Additional Bill Documents Bill Documents
Including:
  • Past bill versions
  • Past fiscal notes
  • Committee activity and documents
  • Bill History
 
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Votes House and Senate Votes
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